French Monetary and Financial Code
In forceThe Livret de Développement Durable et Solidaire is opened by natural persons whose tax residence is in France in establishments and organisations authorised to receive deposits. The sums deposited in this passbook are used in accordance with article L. 221-5.
Deposits made into a Livret de Développement Durable et Solidaire may not exceed a ceiling set by regulation.
Only one passbook may be opened per taxpayer, or one passbook for each spouse or partner in a civil solidarity pact subject to joint taxation.
Establishments distributing the Livret de développement durable et solidaire (sustainable and socially responsible development passbook) offer their customers who hold such a passbook the opportunity to allocate, through their intermediary and free of charge, part of the sums deposited therein in the form of a donation either to a legal entity covered by Article 1 of Law no. 2014-856 of 31 July 2014 on the social and socially responsible economy, or to a financing organisation or credit institution meeting the conditions set out in III of Article L. 3332-17-1 of the Labour Code. A decree specifies the terms and conditions of this allocation, in particular those for the selection of beneficiaries by the customer.
The procedures for opening and operating the Livret de Développement Durable et Solidaire, as well as the projects contributing to the energy transition or reducing the climate footprint to which the sums deposited in this Livret are allocated, are set by regulation.
Operations relating to the Livret de Développement Durable et Solidaire are subject to documentary and on-site inspections by the Inspectorate General of Finance.
